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Please do the following journal entries first using perpetual system and than periodic system. THIS QUESTION IS STRICTLY HOMEWORK HELP Question ll'imar'ltsi The following transactions

Please do the following journal entries first using perpetual system and than periodic system. THIS QUESTION IS STRICTLY HOMEWORK HELP

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Question\" ll'imar'ltsi The following transactions were completed by Flashpoint Inc. for the month of March. The company uses the perpetual system for merchandising transactions. S-Nlar Purchased merchandise from Mobley Co. for $9,000 under credit terms of 1/15, n/30, FOB shipping point. G-Mar Sold merchandise to Cornerstone Company for $1,200 under credit terms of 2/10, n/60, FOP shipping point. The merchandise had cost $750. 7-Mar Paid $150 for freight charges on the purchase of March 5. 9-Mar Sold merchandise that cost $1,800 for $2,400 cash. 10-Mar Purchased merchandise from Richter Co. for $3,450 under credit terms of 2/15, n/60, FOB destination. 12-Mar Received a $300 credit memorandum acknowledging the return of merchandise purchased March 10. 16Mar Received the balance due from Cornerstone Company for the credit sale dated March 6. 16-Mar Sold for cash a piece of ofce equipment at its original cost, $500. 20-Mar Paid the balance due to Mobley Co. 21Mar Sold merchandise that cost $1,350 to Harrill Co. for $1,875 under credit terms of 2115, n/69, FOB shipping point. 22-Mar issued a $300 credit memorandum to Harrill Co. for an allowance on goods sold March 21. 23-Mar I Received a debit memorandum from Harrill Co. for an error that overstated the total invoice by $75. 25-Mar Paid Richter Co. the balance due. 31-Mar Received the balance due from Harrill Co. for the credit sale dated March 21. Required: a) On the following pages (in the general journal) record the transactions above. (using the perpetual system) Explanations are not necessary and leave a line between each entry. b) In the general journal redo the transactions again using the periodic system

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